If you’ve never been out shopping or online for Black Friday through Cyber Monday, then you don’t know why it’s the busiest shopping weekend of the year. Retailers all over the United States swarm to their favorite retail shops to take advantage of the great deals they get for one weekend only. This year, Black Friday/Cyber Monday weekend was predicted to drive a total of $11 Billion in online sales, which is 15% more than 2014.
What Are The Stats For Black Friday/Cyber Monday Weekend This Year?
Based on the data found after Black Friday/Cyber Monday weekend 2015, there was a 24% growth in online sales in comparison to 2014! As shown below, most of online shopping occurred on Mobile devices. Nanigans data shows that there was a 223% increase for purchases on Black Friday on mobile this year in comparison to the past 4 Black Fridays.
Cyber Monday saw some advantages as well in comparison to the past years. Consumers purchasing on mobile during Cyber Monday saw an increase of 111%. The bigger number to look at is +50%! This shows that 50% of people shopping online bought online. Expect this figure to increase next year.
Here are The Categories That Benefited the Most:
• Sporting Goods (specifically Golf Items)
How Did This Happen?
Influencers and Social Commerce drive revenue. It’s important for retailers to stay on their toes when it comes to running social ads during Black Friday and Cyber Monday. You never know what items could take off and go viral in a matter of hours (which could max out your budget & inventory faster than you anticipated).
Some Key Points to Keep In Mind Next Year:
• People are shopping for other people, so low-priced ticket items sell best
• The news is out about increased sales for online shopping, be prepared to be competitive when using Google Shopping, online ads or pay-per-click ads.
• Build awareness of your brand and products prior to sales weekend. Have your customers look forward to great deals during the Black Friday/Cyber Monday weekend.
As you can see, retail stores need to take advantage of the Black Friday/Cyber Monday specials. It’s been proven year-over-year, the sales are increasing and the online closing rate was at 50% this year. Every Business-to-Consumer company should plan to take advantage of this next year. Next year’s Black Friday is November 25th and Cyber Monday will be on November 28th. Remember the date and have the Geeks at Web Geeks work with you to be profitable.